The report covers comprehensive information about market trends, volume (‘000 units) and value (US$ Mn) projections, market dynamics, competition and recent developments in the global Truck Landing Gear market for the study period 2018 to 2026.
The global Truck Landing Gear market is expected to reach US$ 364.3 Mn by the end of the forecast period, registering a CAGR of 4.7% for the period between 2018 and 2026.
Factors Influencing Truck Landing Gear Market Growth (Market Dynamics)
Stringent government regulations regarding carbon emission and growing demand for installation of truck landing gears in existing trailers are the two factors that will propel the demand for new trailers and trucks, which in turn, is expected to give a push to the global truck landing gear market during the forecast period. Moreover, rising adoption of light weight truck landing gears as well as robust demand for oil and milk tankers for the transportation of oil from one place to another place are the other factors projected to foster the growth of the global truck landing gear market throughout the forecast period.
Request For Report [email protected] https://www.persistencemarketresearch.com/samples/25051
In addition, rising transportation in e-commerce and increasing fleet of trailers will also ramp up the global truck landing gear market during the forecast period.
Some small fleet trailer owners are also using supportive structures with truck landing gears to provide additional support to truck landing gears. These supportive structures are mainly used in shipyards to prevent truck landing gears from undergoing a sudden collapse.
20,000 Lbs to 50,000 Lbs Segment Projected to Dominate Throughout the Forecast Period
In the global truck landing gear market, leading manufacturers are offering various types of truck landing gears, with lifting capacity ranging from 20,000 lbs to 50,000 lbs. However, there exist some manufacturers who are manufacturing truck landing gears with less than 20,000 lbs lifting capacity type also. Truck landing gears can sustain in 50,000 lbs to 75,000 lbs load static condition. 20,000 lbs to 50,000 lbs segment is projected to reach ~ 57.0% share and reflect 4.2% CAGR in the global truck landing gear market over the forecast period. In terms of growth, more than 50,000 lbs segment is expected to grow with considerable growth rate over the slated time period owing to rising installation of truck landing gears in heavy duty trailers.
In terms of value share, the more than 50,000 lbs segment is expected to hold 2X the share of the 20,000 lbs to 50,000 lbs segment’s share and is projected to create opportunity worth US$ 44.1 Mn in the global truck landing gear market throughout the forecast period. However, the less than 20,000 lbs segment is projected to grow with moderate growth rate owing as these types of truck landing gears are used for specific purposes or in light duty trailers.
Automatic Segment Anticipated to Grow with Addressable Annual Growth Rate during the Forecast Period
Currently, the manual segment is projected to dominate in the global truck landing gear market. However, during the next eight years, the automatic segment is expected to grow at a significant growth rate owing to rising automation in the trailer component market. In terms of value share, the automatic segment is projected to account for ~9.4X share as compared to manual segment in 2018. By 2026, the segment is expected to grow at 7.4% CAGR in the global truck landing gear market over the forecast period.
Giving the escalating adoption rate of automatic type truck landing gears and rising automation in trailer components, leading truck landing gear manufacturers, such as JOST Werke AG, are investing millions of dollar for the development and manufacturing of automatic truck landing gears.
Key Developments in the Truck Landing Gear Market
Manufacturers of Truck Landing Gears are adopting mainly four types of strategies, i.e. expansion, collaboration, product launches and acquisition, to establish distinguished brand value in the truck landing gear market across the globe.
- In August 2018, JOST Werke AG opened three new sites in New Zealand, Turkey and Thailand, with an aim to expand its fifth wheel couplings, landing gears, bearings and kingpins business in these countries
- In July 2018, SAF-HOLLAND S.A. acquired the digital trailer management specialist AXSCEND LTD. in the U.K., with an aim to strengthen its software and programming expertise and expand its technology portfolio for digital trailer applications
- In April 2018, SAF-HOLLAND acquired some assets of York Transport Equipment (Asia) Pte Ltd. to enhance its supply of trailer components in the Asia Pacific region
- In March 2016, haacon hebetechnik gmbh launched a new series of trailer landing gears called the SX to gain noteworthy traction in the truck landing gear market
Truck Landing Gear Market Structure
The global Truck Landing Gear market is a highly consolidated market. The top three players in the global truck landing gear market are JOST Werke AG, SAF-HOLLAND S.A., and Guangdong Fuwa Engineering Group Co., Ltd.
Request For Report Table of Content (TOC)@ https://www.persistencemarketresearch.com/methodology/25051
Some of the prominent players covered in this market study on the global Truck Landing Gear include JOST Werke AG, SAF-HOLLAND S.A., Guangdong Fuwa Engineering Group Co., Ltd., Butler Products Corp., BPW Bergische Achsen KG, York Transport Equipment (Asia) Pte Ltd., AXN Heavy Duty, LLC, H. D. Trailers Pvt. Ltd., Sinotruck Howo Sales Co., Ltd., Zhenjiang Baohua Semi-Trailer Parts Co., Ltd., haacon hebetechnik gmbh, and Yangzhou Tongyi Machinery Co., Ltd.